JMMB Group has confirmed that it is being affected by Bank Identification Number (BIN) cyberattacks.
These kinds of attacks involve criminals guessing an accurate combination of a debit or credit card number, Card Verification Value (CVV), and expiry date using brute-force computing.
Over the last week, Jamaicans have taken to social media, crying foul as thousands of dollars went missing from their accounts.
A number of those complaints were linked to JMMB Group.
The institution says it is aware of the cyberattacks affecting a number of its clients and players in the local and global financial sector.
The cyber attack sees a number of clients indicating that they have been affected by unauthorized transactions on their debit cards.
JMMB Bank says it will investigate the issue thoroughly, and restore clients’ accounts based on the outcome of those investigations.
The Bank is urging clients to be vigilant in monitoring their accounts and statements and report any suspicious or unusual activity to their financial institutions.
It's also asking cardholders to reduce the amount of funds held in accounts attached to their debit cards, as this will reduce any potential financial loss resulting from BIN attacks and/or other cyberattacks.
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